People
Famous five
Traders' Toolbox
Between a Rock and an easy place to move to
Country Focus: Gibraltar
Less is more
Utilities are leading the chorus for greater energy efficiency in the US. But, as David Watkins discovers, their drive to secure profits while selling less power is proving to be a major regulatory challenge
Tony Cocker
Tony Cocker, CEO of E.ON Energy Trading, is tasked with leading a new centralised European trading hub. It's a challenge he relishes, he tells Andrew Holt
Joint efforts pay off
Central banks
Rocked to the core
Comment
A unifying approach
Economic Capital
Interest rate risk of mortgage servicing rights
Dick Boswinkel and Kent Westerbeck examine the behaviour of mortgage servicing rights' duration and convexity and explain how they relate to the prepayment assumptions used in valuing MSRs
Steward's enquiry
Hermes' David Pitt-Watson gives an owner's perspective on the troubles at UK lender Northern Rock, and details the changes he believes would prevent a repeat of the credit crunch in future. Interview by Rob Mannix
Joined-up thinking
Platform's Piero Bassu tells Dippy Singh how keeping an eye on all aspects of risk has stood the subprime lender in good stead while its less disciplined peers have foundered
Market mulls implications of Northern Rock rescue plan
While some welcome any initiatives to reopen the securitisation market, others question whether the government's guarantee gives the lender an unfair advantage
Sweet release
Equity release
Profile: Matt Cairns
The senior European economist at Moodyseconomy.com, part of Moody's Analytics, talks to Matthew Attwood about the macro trends that define his business
Sovereign wealth saviours
The financial markets have found their new superhero. With major investment banks on their knees after whopping subprime-related writedowns and liquidity in the bond markets severely affected, the arrival of sovereign wealth funds, with their groaning…
The Big Interview: Tim Congdon
The founder of Lombard Street Research and respected economist discusses the precedent for last summer's crisis with Matthew Attwood, and explains how policymakers are damaging the market
Fitch Ratings closes derivatives spin-off as agencies count the cost of slowdown
Derivative Fitch, launched to much fanfare just over a year ago, has been rolled back into the parent company in response to falling revenues from derivatives and structured credit
Herd mentality
The unbridled success of the credit derivatives market over the past few years - until last summer, that is - had led large numbers of investors to adopt similar positions in the sector. Such risk concentration was always likely to cause problems if the…
MPs urge reform of UK financial regulation
Treasury Select Committee criticises current 'tripartite' system of regulation for its failings in the Northern Rock crisis, and recommends shift of power to Bank of England
Dewar, Brown, Khan
CHANGING HATS